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CNBC
Sep 10, 2012 1:00pm EDT
. >>> the drenching that parts of the united states got last week, including tornadoes out in queens, not really helping parched farmland. there are no farms in queens, are there? this afternoon we're going to get exclusive details on the economic impact from our senior economics reporter steve leisman. he's here live. >> in about three minutes we're going to get an e-mail from the guy that runs the farm in queens. it is a big impact from what's a small sector of the economy and it could even have an impact on the presidential election. in a detailed study of the summer's drought which scored soybeans, corn and other crops across the nation, macro economic advisors out of st. louis estimate it could shave as much as a half point off gross domestic product this year. that's a big hit to a $13 trillion economy from a total farm sector that accounts for just -- wait for it now -- 1% of the nation's output. ben herzon is the economist who did the study. pe explai he explains the drought's outside impact. >> even though it only accounts for 1% of the economy, big changes in farm output can show up in
CNBC
Sep 11, 2012 1:00pm EDT
of the united states. >> michael lewis, we will be back with you, talk a little bit of sports, a little bit of stephen strasburg and more throughout the hour. meantime, sue? >> indeed, ty. the markets gaining little bit of strength, up 85 points but also a bond auction in chicago. three years just went off the block. rick santelli at the cme. i saw a bid to cover of about 3.94%, which seems pretty much on the strong side to me but what do you think, ricky? >> yeah it was on the strong side. i almost had the big one when i read that number. i have a 20-year -- >> don't do that. >> i have a 20-year database of three-year note and i cannot find a higher bid to cover than today's 3.94. close to $4, chasing every dollar's worth of securities available for sale, just a big wow on that the wi market was flipping between 34 and 33 1/2, offered at 34 and a half, 34 the yield came in .337, a couple of three-tenths under 34 you could argue there was a little bit of a tail there, but even having said that, 36.8 better than the ten auction average on indirect. direct, 13.4, better than the ten auction a
Search Results 0 to 1 of about 2